Plus500 Review – Spreads & Demo account

plus500

The following Plus500 review introduces one of the best-known CFD/Forex brokers. The Plus500 broker offers very tight spreads and a free unlimited demo account. Moreover, it fully supports 32 languages.

 

Plus500 has been around for a long time and it is a market-leading provider of CFDs. The broker first started operating back in 2008 and since then it has established a huge base of traders from all around the world. Plus500 is one of the biggest brokerage companies out there and you can even trade their own stock under the symbol “PLUS:LN”. The company offers a free demo account, a guaranteed stop loss and a very customer-friendly platform which will be appreciated by both beginners and professional traders. The Plus500 platform features 2 000 trading instruments available to its users.

General Risk Warning: 80.6% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Detailed information about Plus500

  • Rating:4.2 out of 5 stars (4.2 / 5) 3rd Place in our crypto ranking comparison and 3rd Place in our FX/CFD ranking comparison
  • Website address: www.plus500.com
  • Leverage: up to 1:30
  • Instruments: CFDs – Forex, commodities, stocks, indices, ETFs, Cryptocurrencies
  • Minimum deposit: $100
  • Minimum size position: Micro lots from 0.05 lot
  • Demo account: Yes, unlimited for free
  • Methods of deposit and withdrawal: Wire Transfer, PayPal, Skrill, Credit and debit cards (Visa/MasterCard)

Bitcoin trading at Plus500

Trading platform of the broker

The trading platform is very intuitive and it can be accessed from your computer or smartphone. In addition, Plus500 offers two ways of trading using your computer. You can either choose the WebTrader platform to trade directly from the browser without downloading any software, or the Plus500 software (Windows trader), which is the one I prefer when trading from my computer. The Windows trader allows you to orientate much faster, plus I feel I have all the tools and features at my disposal right away. One of the indisputable advantages that the broker has to offer is a wide range of trading instruments, overall there are approximately about 2 000 of them.

Available assets on the Plus500 trading platform

The Plus500 trading platform features over 2 000 CFDs on stocks, indices, cryptocurrencies, forex pairs, commodities, options and ETFs.

  • Stocks: On the trading platform, one can find stocks literally from all around the world. There are European stocks (Vodafone, Ryanair, Orange Polska…) as well as American stocks (Tesla, Amazon, Apple…) and Asian stocks (Toyota, Mazda, Panasonic…), or even Australian stocks. The number of tradable stocks hovers at Plus500 around 1400 from which over 900 are American stocks.
  • Indices: The trading platform features over 3 dozens of indices. Most of them are European and you will find here popular titles like UK 100, Germany 30, Cannabis Stock Index and many others.
  • Forex: There are over 72 forex pairs that consist of major currency pairs like EUR/UD and GBP/USD as well as minor and exotic pairs.
  • Commodities: Gold, coffee, oil, wheat and 2 dozens more commodities are available for trading.
  • Cryptocurrencies: The broker offers CFDs on the following 12 cryptocurrencies: Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Ripple, IOTA, Monero, EOS, Neo, Stellar, Cardano, Tron. All of these cryptocurrencies are traded against the American dollar.
  • Options: Around 200 call and put options, including options on Germany 30, Oil or Facebook.
  • ETFs: Almost 90 exchange traded funds (ETFs) are available, the most popular titles are iShares, SPY and XLF.

Plus500 has also just launched on its platform trading CFD on an index called Crypto 10 – which consists of the top 10 cryptocurrencies, by market capitalisation.

Plus500 free demo account

The Plus500.com broker offers an unlimited practice account with 50 000 fake money units. The demo version works exactly the same as the real account, the only difference being that you trade with imaginary funds. Therefore, you can freely test the Plus500 platform or any strategy while taking no risks whatsoever.

Trade smart – limit your risks (SL/TP) and notifications

At Plus500 traders have access to special tools and features that they can use to limit their trading risks. The two most important of them are a guaranteed stop loss, and a take profit which can be set at a guaranteed price level. Once the asset reaches the level, the trade closes itself out. That way, you can easily control the risk level of each of your trades. In addition to the SL/TP, you can also set up alert alarms that can notify you when the price reaches a certain value. Unlike the stop loss and the take profit, this feature cannot close the trade. Therefore, the decision whether a position remains open or not depends entirely on the trader. The alert can be set by clicking on the bell icon in the details of your instrument. After that, a new Price Alert function window pops up.

Plus500 fees and spreads

As you certainly know, there is nothing free and even a broker must somehow finance its operations. Plus500 makes most of its money on spreads (i.e. the difference between a bid price and an ask price) which is actually not very common as many CFD brokers also charge a fee for setting up a position. Plus500 spreads differ from instrument to instrument but taking all into account we are not afraid to say that Plus500 has one of the most competitive spreads in the industry. The only additional fees you can be charged are a night premium, and an inactivity fee. The night premium fee applies only when you remain in a position after the market has closed.

Is Plus500 a scam?

After my thorough inspection, I can say without hesitation that Plus500 is not a scam. There are several things indicating it is a trustworthy company. For start, Plus500 has a huge base of traders from all over the world whom it managed to attract with its high-quality services. (In the year 2016 the whole Plus500 community made trades worth 1042 + billion of $). As the broker has been around for quite some time (since 2008), its credibility has been tested by the traders. Moreover, the Plus500 Ltd company is listed on the Main Market of the London Stock Exchange. Apart from the possibility to trade its shares (symbol: PLUS:LN), the London Stock Exchange also prescribes strict rules applying to the listed companies. Therefore, any unethical practices are fully excluded.

Plus500 Ltd. is a parent company, the broker is regulated by more than one regulatory authority.
  • In the UK it is regulated by the well-known FCA (Plus500UK Ltd – license number 509909).
  • In Europe – Cyprus by the CySEC (Plus500CY – license number 250/14).
  • In Australia by the ASIC (Plus500AU Pty Ltd (ACN 153301681) – license number 417727).
  • In New Zealand by the FMA (Plus500AU Pty Ltd (FSP #486026).
  • In South Africa by the FSCA (Plus500AU Pty Ltd (l.n. 47546).

Therefore, your funds are insured and safe in case of any problem on the side of the broker (e.g., insolvency).

 

80.6% of retail CFD accounts lose money

Plus500 Review – Spreads & Demo account
4.4 (87.2%) 25 vote[s]

Your review can make a difference to other traders, please leave a comment if you have any personal experience with Plus500.

Michael

Hi, I'm Michael and my area of expertise is forex and cryptocurrency trading. I specialize in technical analysis, namely in chart pattern setups. I educate traders of all levels and I believe that prerequisite to successful active trading is always knowing risks of the game. My most current interest lays in cryptocurrencies, especially in Ethereum and in decentralized applications. I do not give investment advice, but for general inquiries please use the comment section under any article.
Michael

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Between 80-87.07% of retail investor accounts lose money when trading CFDs.